San Diego, CA Real Estate News

By Brian Brady, 858-777-9751
(San Diego VA Home Loans/858-777-9751)
Can the presence of termites screw up a home loan for a beach home?  You betcha they can.Dian Hymer, an author on Inman News, writes this about termite clearances in her column : In this era of consumer awareness, most buyers require a current termite inspection of a home before they'll agree to buy it. However, a termite clearance is not always part of the agreement. Whether or not a termite clearance is required to close a home sale depends on the buyer's lender and on the terms of the agreement negotiated between the buyer and seller. Buyers who purchase a home using an FHA or VA mortgage -- or a low-down payment first-time buyer mortgage program -- may be required to provide the lender with a termite clearance on the home they're buying before the lender will fund the loan. In this ...
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By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
It is difficult to avoid the subject of short sales and foreclosures when discussing real estate these days. We receive ongoing emails and calls from people wanting to buy short sales and foreclosures because they want the best deal possible. They believe that the best buys can only come from bloodied sellers and lenders-and that somehow real estate agents are the best bloodhounds of all (which is often true).There's this misconception floating around that if a lender is willing to shave off some of the debt owed on the property and sell it for less than what is owed,  it must be a good buy. The same logic is also applied to foreclosures.But reality sometimes paints a different picture.Many of our San Diego clients have been able to get outstanding buys on real estate not through short ...
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By Nick Harris
(Loan Link Financial Services)
How many of you are finding it harder and harder to get your buyers and clients to qualify for a mortgage these days? It seems like 100% financing programs have disappeared and programs for First Time Homebuyers are depleting as well. Companies like Countrywide did away with their 100% financing and other big lenders are following suit. The good news is that there are still many 100% lending programs that are available to buyers and grant/silent 2nd programs to assist homebuyers get into their home. If you are running into these scenarios please post them and lets discuss whats going on.
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By Mark Kunce
(Keller Williams Realty )
  New York has Greenwich Village. San Francisco has the Castro. Vancouver has the West End. And San Diego has Hillcrest, our closest thing to a diverse, lively, hip and colorful neighborhood. Hillcrest is the residential and commercial hub of San Diego's gay and lesbian community. Prominent gay clubs are mostly found within Hillcrest. The LGBT community center ("The Center") is located here as well. Hillcrest is a walkable neighborhood with many of the cafés, restaurants and shops near the main residential pockets. The neighborhood hosts annual Gay Pride parade and Hillcrest City Fest Street Fair. Other regular events in Hillcrest include a weekly farmers market, Book Fair, Taste of Uptown  and Mardi Gras.   Beautiful Day in Hillcrest      Go to Farmer's Market (on Sunday 9 a.m.-1 p.m....
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By Gabriel Reyes
(Superior Mortgage Group)
The Subprime Crisis: Is Your Home at Risk?It's all over the news. Subprime mortgage companies are in the midst of a true crisis! According to The New York Times, over two dozen lenders have already closed their doors for good. In fact, more than half of the top 25 mortgage companies from 2006 have either reported serious losses, been sold off to other companies, or have filed for bankruptcy!When asked how many subprime lenders will be taken down by the current credit crunch, Bill Dallas, mortgage industry icon and former CEO of Ownit Mortgage Solutions, replied "all of them." When asked how many borrowers would be impacted by tightening credit standards, Dallas estimated anywhere from 10% to 40%, adding, "the coming shift in available products will be huge." This could negatively impact...
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By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
Luxury is booming and Wall Street is keeping a keen eye on how the rich are spending their wealth. And what better way to measure that hedonism than by creating a variety of indexes that track the shopping of the ultra-rich?  The demand for four-figure handbags, five-figure baubles, six-figure cars, seven and eight-figure homes, luxury resorts and travel,  insurable art and heady wines has created a new and trackable economy for the very wealthy.What intrigues many investors is how well the carriage trade merchants are faring. This is mostly due to the fact that the rich are getting richer and their numbers on a global basis are growing-along with their spending habits.  A look at some of these uber-wealth tracking indexes reveals more than a little about the favored products and shoppi...
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By Mark Kunce
(Keller Williams Realty )
Kensington overlooks Mission Valley's southern rim with many of its homes enjoying views of the valley. The neon "Kensington" sign can be found overhanging Adams Avenue, which acts as the neighborhood's cultural center. The distinctive California-Spanish style homes sit above steep slopes dedicated to open space. In Kensington, there is a old style movie theater showing independent  films, a coffeehouse, a pub, park that surrounds the local library. The area is centrally located near I-15 and offers quick access to many San Diego attractions. A Beautiful Day in Kensington      Have brunch at Kensington Cafe which is local favorite.       Relax at Kensington Park.      After having Fried Calamari and wine at Kensington Grill, go to the Ken Cinema and watch a foreign independent film.
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By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
There is little we can do to stop global warming, the melting of icebergs, rising sea levels and the inevitability of dandelions. But here are some big and small things we can all do to lessen the impact of our carbon footprint on this planet.1. The biggy for me? I traded in a Mercedes 420 for a cool Camry Hybrid. I enjoy the car's size, client curiosity, long pauses between fill-ups and the nice tax credit that accompanied the purchase. Also fun are the included iPod  dock, blue tooth for phone, reliable navigation system, air filtration and having a car that inspires people in parking lots to ask if they can look under the hood of my car. Too see how your car stacks up environmentally, go to the Fuel Economy site.2. Unplug electronic devices (televisions, DVD players, computers, batte...
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By Mark Kunce
(Keller Williams Realty )
The most sprawling of the urban neighborhoods, Norh Park is situated to the northeast of Balboa Park. Home to hundreds of classic California Style Craftsman houses, North Park includes the subneighborhoods of Burlingame, Altadena, and the Morley Field area. The North Park sign can be seen above 30th Street and University Avenue. North Park has recently experienced a significant influx of development interest, especially within its downtown area.  The community has already approved a number of significant proposals that will transform the fabric of downtown North Park. Living in North Park - Virtual Relocation a Beautiful Day in North Park    Pick up a newspaper at Paras News, have a breakfast at The Mission. Then go to Morley Field Sports Complex to play tennis.    Go to Thai Time (410...
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By William Johnson, Retired
(Retired)
OK, Nine. The weather thing is getting a little tired and flaunting that would be just cruel. Welcome to San Diego !1. The Ocean with its beautiful beaches to enjoy fishing, surfing, sailing, cruising, swimming, the tide pools, you name, we have it. 2. Balboa Park, one of the finest and most beautiful parks in the world. Museums, Arboretum, fountains, the largest outside Pipe Organ in the World in its own magnificent Pavilion, cultural centers, restaurants, art galleries, a carousel and the famous Old Globe Theater.3. The San Diego Zoo and Wild Animal Park and wildlife preserve that could rival a real safari4. Seaworld with its aquatics and underwater world that will amaze and would thrill even the most adventured5. The GasLamp Quarter, with more restaurants than you could ever imagine....
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By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
by Roberta MurphyAccording to the latest release from Dataquick, a record number of default notices have been sent to California homeowners during this last quarter, setting a new ten-year record. Why? Dataquick reports that "flat appreciation, slow sales, and post teaser-rate mortgage resets" have contributed to these financial casualties. The San Diego Union Tribune   reports that San Diego County endured 1,182 foreclosures from January through March, 2007--or almost eight times the 153 logged for the same period last year. The prior record was set in the third quarter of 1996, when the housing market was in a deep slump. Under any circumstances, these are not good numbers but they also fail to reflect the very different housing and economic pictiure that has occurred in San Diego dur...
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The median price for re-sale, single-family homes in San Diego County rose 3.6% in March from February. The median price is now off only 3% from the high of $598,000 set in November 2005. The average price for single-family gained 6.4% from the month before, and was up 4.3% year-over-year. Home sales rose 36.7% from February. Year-over-year, sales were down 20.8%. The median price for condos rose 0.8% to $375,000, month-over-month, down 1.3% compared to last March. This is the first time the median price for condos has been positive, year-over-year, since last March. The median price is now 4.3% below the high of $392,000 set in November 2005. Condo sales were up 29.4% from February, off 9.5% year-over-year. The real estate market is very hard to generalize. It is a market made up of ma...
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By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
"Blogging has become a key marketing tool for real estate agents."Michelle Mowad, a talented writer for the San Diego Business Journal, called last week inquiring about real estate blogging and the impact it is having on our San Diego real estate business and life. We talked about Web 2.0 social networking sites like MySpace and how blogging is such a natural communications platform for real estate agents and potential clients. We had a great discussion, and covered a broad range of topics including long tail searches, how Google loves blogs and how a busy Realtor finds time to blog (I arise earlier and have pretty much given up television). She also asked how I got my start in blogging, and I told her about Active Rain. As we might expect, she was already familiar with our favorie real...
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By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
  High-profile real estate discounter ipayOne has posted a notice on its website that they are no longer accepting new listings. Their website bears the following message:To Our Community:ipayOne will no longer be accepting new listings. If you are an existing client, please contact Alana Yardley@ipayOne.comIf you are contacting us regarding buying any other property using our Buyers Reward Program please contact us at info@ipayOne.comIf you are contacting us regarding financing a new or existing home, please contact us at info@ipayOne.com The ipayOne employees, real estate agents and management team want to thank you for all your support over the past three years.Michael JackmanCEO ipayOne is/was headquartered in Carlsbad, CA and specialized in taking one percent listings and offering ...
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By Corey Roseleip
(Ascent Real Estate)
How do you gauge Success in your business? Is it the number of deals you turn over every month, the number of referrals you get from satisfied clients, recognition you may get in your local market for being a top agent...What is it, and how do you get there? I recently had a very inspiring meeting with my brokers here in San Diego.  They really reiterated the fact that Real Estate is a contact sport that needs to be broken down to a science.  How many new contacts do you need to make every week to be successful?   Out of these contacts, how many yield referrals, or deals?  Just like in any sales business--the numbers don't lie!! So play them.  Now I am not saying shove your business down everyone's throat that you happen to bump into on the street...but set your agenda and have some pur...
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By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
¬†San Diego Vacancy Rates the Highest Since ‚Äė95...headlined the front page of¬†the San Diego Union Tribune's Business section last week. Those are words that¬†likely sent cold¬†shivers down the spines of real estate investors, homeowners, home sellers, and potential home buyers throughout¬†San Diego¬†county. But smart home buyers and savvy real estate investors¬†should know by now¬†to read between the lines-and below the headlines.If we take the time to read the article, we immediately discover that the author is referring only to apartments complex vacancies in San Diego, not the enire rental market. The reasons for that decline include new construction competititon, failed condo conversions that are being returned to the rental market, and competition from homeowners who are adding their unso...
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By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
This morning's San Diego Union Tribune reports that our San Diego County apartment vacancy rate is the highest it has been since 1995. Are we surprised?Not exactly.The reasons cited for this increased vacancy rate include:1. Face-lifted condo conversions (that have no chance of selling in this market) are being returned to the rental market. The tenants who had been kicked out earlier moved on and found new homes. These projects are now starting from Ground Zero in finging new tenants.2. Unsuccessful flippers have no choice but to put their properties on the market as rentals--and this creates direct competition for apartment complexes.3. New projects have also entered the market, further increasing rental availabilities. In this writer's opinion, many of these projects were built in an...
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             Requiring effective, on time, Due diligence is at an all time high in the San Diego market...and many Escrows are paying the price for complacency.  At least in my recent transaction experience I have seen a rise in the amount of deals that, for one reason or another, are falling out of what should be a fairly routine escrow process.  In fact, buyer clients of mine in Rancho Bernardo were very excited about a recent home purchase, but after many inspections revealed termite infestation, black toxic mold, and significant water damage, they decided to cut their losses and cancel escrow.  This is what it is coming down to right now.  If a seller is not willing to meet half way on a repair request, or make the necessary fixes that a property needs...buyers are walking away to l...
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By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
Want to amaze your clients? Want the freedom to really misplace your phone? Want a cell phone that can fit into tight jean pockets? The amazing C3 camera¬†flip phone from Pantech (see photo on left with phone on keyboard) measures just 1.69.¬†by 2.72 inches and weighs in at just 2.5 ounces.¬†It‚Äôs no fatty, either, measuring just 0.8 inches thick.¬† Billed as the world‚Äôs smallest camera flip phone, the C3 offers a VGA camera, interchangeable face plates, along with email and instant messaging capabilities. Currently, this little wonder is available only through Cingular Wireless‚ÄĒwith some great pricing incentives. The¬† Pantech C3 features and reviews are pretty impressive.It's a cute phone, but is probably impractical for this Blackberry-addicted San Diego Realtor. ¬†
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By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
I attended a meeting of top women agents in North San Diego County last week, and here was lots of buzz and much discussion about what is selling‚ÄĒand what is not. Aside from market issues (luxury home market is strong in coastal San Diego County and multiple offers are not uncommon for buffed homes in the $1.5 million and up range), the issue of home presentation and staging was at the very top of the list. Books could be written about all the things sellers might do to increase the sales price and decrease marketing time for their listed homes‚ÄĒand I know Active Rainers always welcome the advice and hints offered by our resident stagers and designers. Many of their posts could probably be compiled into what could become a best seller (hint to you, I think one of the reasons home staging...
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